Buy Everest Kanto, target of Rs 97: Rahul Mohinder

Rahul Mohinder, Technical Analyst at viratechindia.com advised buying Everest Kanto with short-term target of Rs 97.

Mohinder told CNBC-TV18, "I would like to buy Everest Kanto. I think we have seen strong short-term outperformance by the stock and I think I would like to buy it at present levels of Rs 91. Target for the stock in short-term would be about Rs 97. I would keep a stoploss at Rs 87 and one would see the stock not only outperform with good pricing volume breakout, its even breaking out of the Rs 90 resistance zone which is probably in 2011 never been crossed. So this breakout above Rs 90 is certainly worth noting and I think this can really lead to biggest medium to long-term trend as well."